G21y-O3 Company began operations in 2022. During 2022, G21y-O3 Company recorded the following transactions: 1. On May 1, G21y-O3 Company sold common stock to owners for $225,800 cash. 2. On June 1, G21y-O3 Company borrowed $157,800 from the local bank on an 11-month, 12% note payable. 3. On August 1, G21y-O3 Company paid $54,000 cash to purchase inventory. 4. On September 1, G21y-O3 Company purchased a one-year insurance policy costing $30,360. During 2023, G21y-O3 Company entered into the following transactions: 1. On March 1, G21y-O3 Company sold one-half of the inventory that was purchased on August 1, 2022 for $67,000 cash. 2. On May 1, G21y-O3 Company paid its stockholders a $28,000 dividend. 3. On September 1, G21y-O3 Company paid $31,320 to renew its insurance policy for another one year. Calculate the amount of total expenses reported on G21y-O3 Company's 2023 income statement.